Market system overlaps with the rise of individualistic behavior.
The economic revolution
4 causes for the transition:
Emergence of nation-state;
Introduction of money and markets (material changes);
Rise in scientific curiosity;
Decline of religious spirit (namely of the Catholic Church).
Ethics & Economics
Ethics & Economics
From feudalism to capitalism
Perspective of ethics
Ethics & Economics
“On the one hand, it is evident that the whole body of regulations, by which modern societies set limits to the free play of economic self-interest, implies the acceptance, whether deliberate or unconscious, of moral standards, by reference to which certain kinds of economic conduct are pronounced illegitimate.” (Tawney, 1926, p. 4)
